Krsnaa Diagnostics Partners with Medikabazaar and United Imaging to Enhance Advanced Diagnostics in India

The partnership is one of the largest in the Indian diagnostics sector and focuses on improving patient care and accessibility. Krsnaa Diagnostics is recognised for its reach and reputation in providing affordable healthcare services. This partnership will leverage United Imaging’s advanced MRI, CT, and PET CT technologies to enhance diagnostic capabilities in underserved areas.

“We are thrilled to join hands with Medikabazaar and United imaging in what we see as a transformative alliance for the Indian diagnostics industry,” said Rajendra Mutha, Chairman of Krsnaa Diagnostics. “This collaboration not only enables us to expand our footprint into under-served regions but also strengthens our ability to offer cutting-edge imaging services at competitive prices. The unparalleled financial terms provided by United Imaging structured by Medikabazaar speak volumes about the trust they place in our operational excellence and leadership in the sector.” 

The initiative aims to transform diagnostic delivery in semi-urban and rural regions, making world-class imaging technologies available through Krsnaa's extensive network. This collaboration seeks to ensure that even remote populations have access to timely and accurate diagnostic testing, bridging the gap in quality healthcare services.

About Krsnaa Diagnostics Limited:

Krsnaa Diagnostics is a leading diagnostics service provider in India, with a network that spans 18 states and union territories. The company operates over 168 MRI and CT centers, more than 1,400 tele reporting X-ray centers, 120 labs, and over 2,200 collection centers. Krsnaa is dedicated to offering high-quality and affordable diagnostic services, utilizing an advanced cloud-based system that allows for quick deployment and easy integration into various healthcare settings.

About United Imaging and Medikabazaar:

United Imaging is a global leader in high-performance imaging equipment, focused on innovation in diagnostic technology. Medikabazaar is the largest B2B healthcare procurement and supply chain solutions provider in India. It offers a tech-enabled supply chain system that allows hospitals to easily procure the supplies and services they need, helping improve efficiency and making healthcare more affordable and accessible for patients across the country.

 Key Takeaways from the Order Win 

• Lloyds Engineering Works Limited secured orders totalling ₹44 crores for steel eco-pickling systems and marine loading arms. 
• The company is using cutting-edge technologies, such as Eco-Pickled Steel, which eliminates the need for harmful acids in the pickling process.
• Marine Loading Arms leverage Japanese expertise and are manufactured in India, contributing to cost advantages and wider market reach.

The steel eco-pickling systems alone account for ₹50 crore, while the marine loading arms contribute ₹9.3 crore, showcasing the demand for LEWL’s innovative and technologically advanced products.

Mr Shreekrishna Gupta, Whole-Time Director of Lloyds Engineering Works Limited, said: "These orders underscore our strategy of aligning our product offerings with niche, technologically advanced solutions. The Eco-Pickled Steel (EPS) technology is revolutionary, eliminating the use of environmentally harmful acids in the steel pickling industry, which is both costly and damaging. Given that 15-20% of all steel produced is pickled, this leaves a vast market over the next decade. EPS provides a cheaper setup and operational model and produces higher-quality pickled steel, catering to various end-user markets. In addition, our loading arms leverage Japanese technology and expertise, manufactured in India. This ‘Make in India’ approach will give us a significant competitive advantage in both cost and market reach." 

LEWL had earlier signed agreements with The Material Works Ltd. for EPS Gen 4 technology and TB Global Technologies Ltd. for Marine Loading Arms, solidifying its leadership in these innovative sectors.

About Lloyds Engineering Works Limited (LEWL)

Lloyd Engineering Works Ltd, founded in 1994, is an Indian company that specializes in providing customized process plant equipment. They offer a full range of engineering and infrastructure solutions, including design, manufacturing, fabrication, and installation. Their products cater to industries such as carbon, oil & gas, steel, power plants, and nuclear boilers, along with turnkey projects. Their facilities are certified by various authorities like the Industrial Boiler Regulatory Authority and Petroleum and Explosives Safety Organisation. The company has modern manufacturing units in Murbad, Thane, and is based in Mumbai.

Key Takeaways from Zen Technologies Contract:

• The AMC solidifies Zen Technologies' collaboration with the Ministry of Defence, showcasing the trust placed in the company's capabilities.
• This five-year contract ensures continuous support and maintenance for advanced simulators, addressing the operational needs of India's defence forces.
• The contract reinforces Zen's position as a key player in the defence simulation sector, emphasising its expertise in maintaining critical assets.
• Valued at Rs 46 Crores (including 18% GST), this AMC reflects the significant investment in defence technology and maintenance, contributing to the sector's growth.

The AMC strengthens Zen's partnership with the Ministry of Defence and highlights the Ministry's confidence in the company's advanced defence solutions. 

Zen Technologies aims to meet the operational needs of India’s defence forces with its simulator technology. 

This contract reinforces Zen's position as a leader in the defence simulation sector, providing essential maintenance support for critical defence assets.

About Zen Technologies Limited

Zen Technologies Limited is a well-known leader in the industry with more than 30 years of experience in providing advanced Military Training and Anti-Drone solutions. The company focuses on creating high-tech military training simulators, driving simulators, live range equipment, and anti-drone systems. Zen has a dedicated Research and Development (R&D) facility in Hyderabad, recognized by the Ministry of Science and Technology, Government of India, showing its commitment to innovation. The company has applied for over 155 patents, with more than 75 already granted, and has successfully delivered over 1,000 training systems around the world.

Key Takeaways from Garuda Construction and Engineering Limited IPO:

• The Garuda Construction and Engineering Limited IPO comprises a fresh issue of up to 1,83,00,000 equity shares, along with an Offer for Sale of up to 95,00,000 shares by promoter PKH Ventures Limited. 
• The IPO will have a bidding period starting with anchor investors on October 7, 2024, followed by the opening of the IPO on October 8 and closing on October 10, 2024. This timeline provides investors with a structured approach to participation.
• The IPO has a clear allocation strategy, reserving not more than 50% for QIBs, at least 15% for NIIs, and a minimum of 35% for RIBs, ensuring a balanced participation from various investor categories.

In addition to the fresh issue, there will be an Offer for Sale of up to 95,00,000 equity shares by the promoter, PKH Ventures Limited. This brings the total offer size to a substantial 2,78,00,000 equity shares, allowing investors a significant opportunity to participate in the company's growth.

While the price band for the IPO is yet to be announced, it is anticipated that this information will be made available closer to the offer date. The minimum lot size for the bidding has not been disclosed yet but will be revealed as the IPO approaches. The tentative timeline for the IPO is as follows: the anchor investor bidding date is scheduled for October 7, 2024, with the main IPO opening on October 8, 2024, and closing on October 10, 2024. This timeline provides investors with ample time to evaluate their participation in the offering.

In terms of allocation, the IPO is designed to cater to various categories of investors. Qualified Institutional Buyers (QIBs) will be allocated not more than 50% of the total offer, while Non-Institutional Investors (NIIs) will receive a minimum of 15%. Retail Individual Bidders (RIBs) are assured a minimum allocation of 35% of the offer. This structured approach ensures a balanced and fair distribution among different investor segments, making Garuda Construction and Engineering Limited's IPO an appealing investment opportunity for a diverse range of market participants.

About Garuda Construction and Engineering Limited, 

Garuda Construction and Engineering Limited, established in 2010, is a construction company that offers a wide range of building services. They work on residential, commercial, industrial, and infrastructure projects, and also provide additional services for hospitality projects. In addition to construction, the company offers operation and maintenance (O&M), mechanical, electrical, and plumbing (MEP) services, along with finishing touches for various projects.